5-Year Rollover Glut Has Swelled IRA Balances: Cerulli
January 23, 2023 by John Manganaro
The exceptional capital market performance experienced between 2016 and 2021 translated to significantly higher average 401(k) account balances, which in turn drove a groundswell of rollovers into individual retirement accounts.
This is one of the headline findings of the newly published Cerulli Report, “U.S. Retirement Markets 2022: The Role of Workplace Retirement Plans in the War for Talent.” According to Cerulli, the rush of rollovers was concentrated among higher-balance participants nearing retirement, and the level of IRA assets reached nearly $14 trillion as of the end of 2021.